Exchange Traded Concepts LLC, a prominent institutional investor, has recently decreased its stake in Vertiv Holdings Co (NYSE:VRT) by 14.8% during the second quarter of this year. This information was disclosed in the company’s most recent 13F filing with the Securities and Exchange Commission (SEC). As a result of this reduction, Exchange Traded Concepts LLC now owns 119,840 shares of Vertiv’s stock, having sold 20,882 shares during the specified period. The value of Exchange Traded Concepts LLC’s holdings in Vertiv amounted to $2,968,000 at the end of the reporting period.
In terms of financial performance, Vertiv released its quarterly earnings results on Wednesday, August 2nd. The company reported earnings per share (EPS) amounting to $0.46 for the quarter, surpassing market expectations by $0.17. These positive results were driven by a strong revenue figure of $1.73 billion for the same period, which exceeded analyst estimates that had forecasted revenue to be around $1.62 billion.
Furthermore, Vertiv showcased robust growth with a year-over-year increase of 23.9% in revenue during this particular quarter. This is indicative of the company’s ability to generate higher sales and strengthen its market position over time.
Noteworthy financial indicators also include Vertiv’s net margin of 2.84% and an impressive return on equity (ROE) of 31.02%. These figures reflect the company’s efficient management strategy and its focus on maximizing profitability while maintaining a strong financial foundation.
Comparatively, in the corresponding quarter last year, Vertiv earned $0.10 per share – indicating substantial growth since then.
Looking ahead, research analysts anticipate that Vertiv Holdings Co will continue to excel financially and predict earnings per share (EPS) of approximately 1.6 for the current fiscal year.
In conclusion, Vertiv’s recent financial results have showcased its strong performance in the market. The company’s revenue and earnings figures surpassed market estimates, bolstering investor confidence. Despite the reduction in stake by Exchange Traded Concepts LLC, Vertiv remains an attractive investment opportunity for those seeking exposure to a promising and well-performing company.
The AZEK Company Inc.
Updated on: 03/03/2024
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm
Hedge Funds Increase Positions in Vertiv as Company Shows Growth Potential
On October 2, 2023, several hedge funds made significant changes to their positions in Vertiv, a leading company in the industry. The Teacher Retirement System of Texas increased its stake in the company by a staggering 42.1% during the second quarter. As a result, they now own over 100,000 shares worth $2.5 million. Similarly, Virtue Capital Management LLC entered the market and acquired a new position in Vertiv at a value of approximately $750,000.
Counterpoint Mutual Funds LLC also saw an increase of 24.5% in its stake in Vertiv during the same period. This brought their ownership to almost 10,000 shares valued at $242,000. Perpetual Ltd further boosted its stake by 6%, resulting in ownership of over 800,000 shares worth $11 million.
Another interesting development occurred when Cambridge Investment Research Advisors Inc. purchased a new position in Vertiv with an approximate value of $1.1 million during the second quarter.
Overall, it is noteworthy that institutional investors currently hold around 92.37% of the stock.
The trading activity surrounding VRT stock on Monday was highly anticipated. Opening at $37.20 per share, it displayed resilience and steady growth throughout the day’s trading session despite market fluctuations.
With a market capitalization reaching an impressive $14.16 billion, Vertiv has proven itself as one of the leading companies within its industry sector. This success is reflected in its relatively high price-earnings (PE) ratio of 79.15 and notable beta rating of 1.41.
Additionally, Vertiv carries a debt-to-equity ratio of 1.77 which indicates financial stability and responsible management practices within the organization.
From a liquidity perspective, Vertiv maintains strong ratios with quick ratio standing at an acceptable level of 1.20 and current ratio reaching up to 1.64.
Analyzing price movement trends, it is evident that the firm’s fifty-day moving average stands at $35.16 and its 200-day moving average rests at a much lower level of $24.10.
The stock’s performance over the past year has fluctuated significantly, with a one-year low of $9.60 and a one-year high of $40.41. This level of volatility reflects market conditions and various external factors influencing the company’s stock performance.
In relation to recent company news, Director Doherty Philip O’ made headlines when he sold 137,206 shares of Vertiv stock on July 13th at an average price of $27.00 per share. The total value of this transaction amounted to $3,704,562.00. Following this sale, Doherty Philip O’ retains ownership of 14,241,005 shares in the company with an estimated value of $384,507,135.
Furthermore, CAO Scott Cripps also made a notable sell-off on Thursday, September 7th by selling 36,008 shares at an average price of $38.47 per share. The total transaction value reached $1,385,227.76.
Details regarding these transactions have been duly filed with the Securities and Exchange Commission (SEC) for public access through their official website.
Insiders have actively engaged in selling Vertiv stocks over the past three months as a collective offloading amounting to approximately 32 million shares took place during this period. The total worth of these sales reaches an impressive figure exceeding $1 billion.
It is important to note that insiders currently own approximately 5.62% of the company’s outstanding stock.
Vertiv has garnered considerable attention within the investment research community in recent times. Citigroup analysts increased their price objective for Vertiv from $21.00 to $29.00 on June 16th. Similarly, TheStreet upgraded Vertiv’s rating from “c” to “b-” on August 2nd.
Reputable research firm Evercore ISI further increased their target price from $40.00 to a more optimistic $50.00 on September 7th. This bullish sentiment was shared by TD Cowen, who raised the target price to $41.00 and maintained an “outperform” rating on August 11th.
Maintaining a balanced perspective, 22nd Century Group reaffirmed its positive outlook on Vertiv stock in a research report released on June 29th, indicating that the company continues to hold promise for investors.
Overall, Bloomberg.com reports an average rating of “Moderate Buy” for Vertiv with an average target price of $33.00 as suggested by several market analysts.
These developments highlight the excitement surrounding Vertiv and its potential for growth within the industry sector. With institutional support and positive ratings by reputable research firms, it will be interesting to see how these factors impact the future performance of this highly regarded company.